Pre-Market Action: Here is the trade setup for today’s session

The Nifty was effectively flat on Wednesday. Expiry of Sensex weekly and monthly derivatives added to the cautious position. Analysts say a gradual recovery in domestic markets could be sustained if crude oil prices remain soft and concerns over global energy supplies continue to ease. However, sentiment is likely to remain guarded – mixed signals from the US-Iran negotiation process, combined with fresh US military strikes in southern Iran, have revived geopolitical risk premiums that markets have started to price down. The road ahead is narrower than last week’s rally suggested.

Market conditions

• Tech View: Overall, the technical and derivative data suggest a side to mild positive trend for the coming sessions. On the level front, 23800 is likely to act as immediate support, while 24000-24100 is a strong resistance zone. Positional support for the index is placed at the 23650 level.”
• India VIX: The India VIX, a measure of fear in markets, settled down 7.1% at 14.98.

Ban stock today in F&O

NIL

Block period securities under the F&O segment include companies in which the security exceeds 95% of the market-wide position limit.

FII/DII action

Foreign portfolio investors on Wednesday invested Rs. 1,043 crore net purchase of shares. Meanwhile DII Rs. 3,821 crore were net buyers.

Rs

The rupee settled 12 paise higher at 95.58 against the US dollar on Wednesday as investors remained cautious due to renewed tensions between the US and Iran and delays in talks.

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